Market News Page No. 144| Africa Business News | Afrotrade

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Agriculture To Bridge Trade Imbalance Between Tanzania, Sweden

Tanzania and Sweden are seeking to put in check the existing trade imbalance between the two countries. The two parties met to discuss the issue as well as look for ways to open new markets for their agricultural produce. Both parties have identified the potential in the sector and deem it ideal for business and more export opportunities to foster their economies. Mr. Boniface Michael, the Acting Director of Trade Promotion at the.... Read more »

Posted on : Wednesday , 10th October 2018

Volkswagen Contemplating Entering Ethiopia

Volkswagen is considering a component assembly plant in Ethiopia, in addition to the two recently announced assembly plants in Ghana and Nigeria. The foray into Africa represents a growth opportunity for the car maker in light of the expected recovery of the continent’s economies recently hit by the downturn in commodities. According to the Export-Import Bank’s Africa Trade Report 2018, African economies will grow by 4.1 per cent.... Read more »

Posted on : Wednesday , 10th October 2018

Rapid industrialization drives new lighting technology requirement in Rwanda

Rwanda, an East-African country of 12 million inhabitants, is recognized around the world for its natural beauty and wildlife, its booming industry, and its accompanying rapid transition from a low-income to a middle-income economy. Numerous construction projects and modernization initiatives in urban and rural areas are driving the need for better lighting products and technologies which are efficient and long lasting. With rapid.... Read more »

Posted on : Tuesday , 9th October 2018

Rwanda wood processing sector sees revival amid 8% GDP growth

Rwanda is seeking more companies to invest in the timber production and other related industries to boost forestry and timber business locally, official sources in the Ministry of Land and Forestry have indicated. With export growth of 17.9 percent in the year to August 2018 and import growth of 7.4 percent, the trade balance has continued to improve, Laure Redifer, IMF Rwanda mission chief in Kigali said, adding that the robust growth in.... Read more »

Posted on : Tuesday , 9th October 2018

Rwanda invites mega investments to reach 100% access to sustainable electricity

Rwandan Minister of Infrastructure Claver Gatete said on the sidelines of a forum in Kigali, that Rwanda looks forward to increased investment in energy sources in order to achieve universal energy access by 2024. The Rwandan government on recently announced a US $53 million(41 billion Rwandan francs) line of credit which is aimed at stimulating the development and establishment of a solar home system by 2023.The Minister of State for.... Read more »

Posted on : Tuesday , 9th October 2018

Rwanda boosts investment for Power and Energy sector

The Minister of State for Energy, Water and Sanitation Germaine Kamayirese said at a recently concluded forum that that Rwandan Government has adopted digital technologies in the power distribution system as a part of steps taken to efficiently respond to the country’s power demands. Germaine Kamayirese said that the smart grid technology in the energy sector – an electricity supply network that uses digital communication technology.... Read more »

Posted on : Tuesday , 9th October 2018

Rwanda mining sector revenue jumps to $373m boosting investment

The Mining sector is Rwanda's second largest foreign exchange earner just behind tourism and the resilient East African country took in $166-million from exports of the commodities in 2016. Supported by a rebound in global prices of commodities, Rwanda's mineral exports earnings witnessed a more than double growth to $373-million in 2017 as compared to the previous 12 months, a top official said. Mr. Francis Gatare, Chief Executive at.... Read more »

Posted on : Tuesday , 9th October 2018

Rwanda registers a healthy economic growth rate: International Monetary Fund

The IMF and the World Bank have released the growth estimates for Rwanda to 7.2 percent . The International Monetary Fund(IMF) has retainied the economic growth projection for 2018 at 7.2 percent based on strong industrial policy and favourable climate which helped in boosting agricultural output. Rwanda is one of the fastest growing economies with an average growth rate of 7 percent every year since 2000. Laure Redifer the head of.... Read more »

Posted on : Tuesday , 9th October 2018

ABB to equip first high speed rail link in Tanzania

The Tanzanian government has selected well known Swedish-Swiss multinational corporation, ABB to supply complete substation equipment and engineering solutions for a 530 km-long high-speed electric line stretching between Dar es Salaam and Makutupora. Termed as a landmark project, the line is intended to link Tanzania’s port cities with interior areas and neighbouring countries to stimulate regional trade and passenger travel in the.... Read more »

Posted on : Thursday , 4th October 2018

Construction work on road linking Kenya and Burundi complete

Construction work on the 1,545 km road linking the port of Mombasa and Burundi dubbed the Mombasa-Bujumbura highway is now complete and is set to increase trade between the two countries. Transport Cabinet Secretary James Macharia, confirmed the reports and said the road which is part of the Trans-African Highway, links the port through Holili, Singida-Kobero border and finally to Bujumbura, slashing the distance between Mombasa.... Read more »

Posted on : Thursday , 4th October 2018

EU Projects in Tanzania to Boost Agriculture

The European Union (EU) and the government of Tanzania on Tuesday have signed a 103.5-million-Euro financing agreement to improve productivity in the agricultural sector. A joint statement by the EU and the government of Tanzania said will focus on horticulture, coffee and tea to improve agricultural productivity. "Under the agreement the EU will provide 100 million Euro and implementing partners will contribute 3.5 million.... Read more »

Posted on : Wednesday , 3rd October 2018

Kenya pushes back plans for Sh968bn nuclear power plant to focus on renewables

Kenya’s Ministry of Energy has released an updated power development plan, unveiling the nation’s energy strategy between 2017 and 2037. Under the strategy, construction of the planned Sh968bn (US$9.6bn) nuclear power plant has been postponed by nine years. The plant had been initially intended for building in 2027, but is now set for 2036 at the earliest. The first unit is anticipated to be built in 2036, followed by a second.... Read more »

Posted on : Wednesday , 3rd October 2018

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